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tv   Cashin In  FOX Business  September 29, 2013 2:30am-3:01am EDT

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jelly. >> david: emac, you like it? >> dividends like smucker's shares havave to be good. profits coming down lately. >> david: that is it for "forbes on fox." ke it here. the number one business block tonights with eric bolling and "cashin' in." ♪ ♪ >> eric: a power struggle in dc, not just between democrats and republicans but between you and washington. a record number of americans say the government has too much power. the epa admitting green regulations meant to cut co2 won't cut them at all but they will cut plenty of jobs. time to put the global warming on ice. took the fifth when asked about the i.r.s. targeting conservatives and now lois is taking a cushy retirement packal paid for by you and me. does she owe us an explanation before the checks clear? "cashin' in" shining a bright light on the characters running a muck in dc starts
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right now. ♪ ♪ >> welcome to "cashin' in." wayne rogers, eboni k. williams, and welcome. the lawmakers battle it out this weekend. a new polls show record number of americans, 60% think washington has too much power. michelle, let me guess, you agree with these people? >> absolutely. look at what is going on. now we have the americans take over healthcare. a lot of americans believed obama when he came in and said government would be the answer to all of our problems. >> eric: bigger and bigger and bigger. federal budget is approaching $4 trillion.
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>> the government is involved in ideas and practices that wasn't 100 years ago. the concept has changed. the promise of america was that the government was limited. it was responsible for one thing. protecting individual rights. now we have government involved in deciding who can cut hair, what we eat or drive, how to run the businesses. what companies are bailed out and broken up with the antitrust. today america is unrecognizable to what it was 100 years ago. >> the one that strikes me, the one that grows the faster, the biggest and the most often are the entitlement programs. welfare, the food stamps, et cetera. is it out of control? do we need to reign it in? >> we do. i think what we talk about the programs, sure, they are absolutely in need. they need some type of a
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safety net. the way we do it is not effective. too much waste and there is fraud there. there is a responseability to do better job in the program. >> eric: wayne, layup. federal government too, big, out of control? what say you? >> yes. >> this started in the new deal. there is a tenth amendment for the constitution that says all of those rights not specifically, all of those things, not specifically mentioned in the constitution that are relegated to the federal government are relegated to the states and the people. obamacare is example of that. in 1942 the federal government said a guy growing grain on his own land for his own use was subject to the interstate commerce clause, because he
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was affecting the prices in effect at that time. so the commerce clause has been used to aggrandize more and more federal government getting in the business and doing whatever the heck they want to do. it's a terrible thing. justice roberts when he imposed obamacare on us calling at it tax, nowhere is in there, in the law it says it's a tax. he invented that. >> eric: i read this often. i'm still looking for it. >> in ten years the federal budget doubled. there is a belief government can do whatever they want if they get votes. this is not a democracy. this is a republic. they turn them in the bankrupt retirement programs like social security that make up the trillions in unfunded liability for country.
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but now as well. is government limited? it doesn't look like it based on what is going on in dc. >> eric: i want the producers to roll the clip of president obama, before he was elected. he warned to us change the direction of america. he was elected anyway. take a listen. >> we are five days aw from fundamentally transforming the united states of america. >> eric: we did it anyway, didn't we? >> yes. >> oncep once an entitlement is created, there is no going back. there to stay. we have a battle in capitol hill. the members of congress know once obamacare is in, there is no way to take it away from the people. entitlement programs are never scaled back. i grows bigger and bigger.
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>> this is not just entitlement or obamacare. the nsa are snooping on americans. government, big brother is so big, so out of control. this is a shell of what we used to be. >> i think so, eric. we're not, this is not a singular issue. we started to see the number increase in government distrust in 2004. not coincidently was around when the nsa program got off the ground. we started to see some kind of inconsistency with the intelligence relied on going to iraq. this is an upward trend of something that started a while back. >> we, this show, "cashin' in," melf, all of us characterized this way in liberal media. arco capitalism. like it's a bad thing. >> it's astounding, isn't it? people forgot what made the country great and what we
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founded on and the founding fathers, people don't read the constitution. you carry a copy of it, god bless you. people don't read the constitution or the federalist papers and they don't understand what the basic part of the government was set up to protect us from our federal government. that's why the founding fathers wrote the constitution. not to use the federal government as an enhanceer of something that everybody wanted. they understood that. that is why they wrote it. >> the most profitable and prosperous point of the country came before all the progressive type of programs, entitlements, minimum wage. the prosperous period came before it was enacted. >> eric: this document here didn't include those programs when they wrote that. we live by it. anyway, leave it there. a good discussion, guys. coming up a big uh-oh from the
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ep ab admitting a part of the global warming agenda won't do anything for the climate. is it time to put this potential job-can i feeler on ice? e and
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battle with cancer. see you at the top of the hour. >> eric: remember when the president promised this? >> if someone wants to build a coal power plant they can, but it will bankrupt them.
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>> eric: get this. the eba just admitting the new proposed role to shut down the coal plants will do nothing to fight global warming. meanwhile, thousands of jobs are expected to go up in smoke. i can't remember a time where an american president was hell-bent to destroy american industry the way this president has done and is in the process of doing to the coal industry. >> it's bewildering. the environmental regulators goal is hurt mankind and this entreplifies it better than anything. coal violates no one's rights. cutting the coal plants by the epa's admission won't affect co2 level. why do it? coal or keystonepipeline other than if it's to hurt human and mankind. >> there are 175,000 jobs
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directly in the coal industry between mining and transportation. he is literally taking it to the 200,000 people or so. >> the part that is so looney about all of this is that the epa whose job is to protect the environment, is saying it has no effect. not going to add co2 to the atmosphere. i won't do what it abhors to do. not do those things. passing a rule saying you can't do it. it's dumb. this is like the "a" block what we talked about, the government doesn't understand what the other hand is doing. of course it's costing jobs. >> eric: i remember the president saying the power bills will necessarily skyrocket. who does this help? what is the plan or the end
quote quote
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game? >> there is a problem. i believe that global warming is a real issue and something taken seriously but there are a lot of people don't believe in it. it's because of this. this undermines the credibility of the epa. they say out of their mouth it won't affect carbon emissions at all. this is a bit problematic for them on the credibility front. >> eric: what is the purpose? we are going to shut down the coal industry? >> it's -- right, yes. it seems like they are just speaking rhetoric. >> eric: as everyone who knows and smart people watching you realize even if we cut back coal emissions here, co2 emissions here, china is still overadmitting? india is overadmitting, brazil is overadmitting. at some point you say listen, they won't play by theules why do we have to have to ruin an industry. >> the coal industry going to take care of itself? natural gas is cheaper.
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hands off and let it regulate itself. >> excuse me. the point here is that the epa itself says this isn't going to do any harm. that is what is dumb about it. forget about you can have a debate whether you want global warming or not. that isn't the question here. >> of since obama came in office, 138 coal plants shut down. 207 more will shut down by the end of the decade. because of the epa regulation. what i don't understand, are all of these unemployed coal workers who are trying to feed their family are supposed to take comfort in the fact their jobs were killed for regulation that doesn't even work? that there is no point to it? where are they supposed to go? work at solyndra? >> we have to leave it there. we keep an eye on the stock prices. some of the coal companies. james river, down, 71%. down 25%. down 85%.
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this man is destroying a whole industry. coming up -- >> i decided not to testify or answer any questions today. >> eric: she refused to testify. but she is not refusing tax money. the irs official naught the scandal retired with full benefit but if she is not speaking out does she deserve the pay-out?
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>> eric: lois is leaving and taking the taxpayers cash with her. the i.r.s. official at the center of the targeting conservative scandal just retiring from the agency. and reports say she is walking away with a full pension with luge rative health benefits and refusing to tell taxpayers what happened. a lot of benefits. $40,000 to $60,000 a year. is this fair? >> not at all. she gets ton of benefit. this is telling the worker delays abuse the power and refuse to answer the questions. they can retire and have a nice. this is unfair and sets a bad precedent. >> do you trust these people? >> of course not, you can't trust anybody in the government.
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this is insanity. compelled to talk. she should have been compelled to tell the truth. fire her, you don't reward her. this sends a bad message. michelle is right. >> eric: talk to the lawyer here. does she deserve this big pension? >> c'mon now, eric. at the end of the day, pull up the constitution of yours, which i like. by the way, wayne, time for the fifth amendment here. that is self-incrimination. we can be frustrated. i admit it. darrell issa made it clear. but the woman is owed her pension. >> i agree to take the fifty you have the right. absolutely. but boy, i think we should be leaning on her to explain what, how high in this government did that direct i target go? >> even without learner, the problem remains. that is the i.r.s.
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i.r.s. which is basically unrestrained with the totally subjective, arbitrary rules. that are haphazardly enforced. rather than come down on the lois learner who hasn't been convicted of a crime, take this opportunity to change the system. to move toward moral tax system that is a flat system what treats everyone the same and leighs, eliminates the possibility of this subjective enforcement. which is what learner and so many others have been behind. >> you and i love that -- wayne, do you like flat tax as well? i love it. tary tax. >> i do. i like the flat tax. she has every right to invoke fifth amendment. >> people can testify to what she did or didn't do. >> i like the fair tax better than the flat tax. >> i think the woman, she is lying. they ought to get some of the people in there to talk about what she did.
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this is not low level employees who did this. >> eric: maybe it's time to just ask her to testify. ask her nicely maybe. >> her counsel would advise against that. >> we leave it there. great show. thank you very much. >> it's a european country with a budget deficit lower than mine. thank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond.
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80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it.
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>> eric: as lawmakers are fighting over spending here, one european country may be showing us how to get things done over is there. i'm tking about malta, an island south of italy. the budget deficit as a percentage of gdp is less than half of hours in the u.s. joining me now in the hot seat, the maltese prime minister. welcome. you are in town for the-up. a big u.n. general assembly week. president obama has been addressing syria. give us a quick couple of seconds on your thoughts of what should happen there. >> it's moving in the right direction. i believe that a multilateral approach is the desired approach for us. we are in the neighborhood. we believe that america is providing the necessary leadership. but, there should be a u.n. rubber stamp. a u.n. approach toking this. >> very good. move to the economics of
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malta. malta is perceived to be stable economy compared to other european nations. why is it there are so many much money flowing to malta and out of say greece? ireland, portugal. what is going on in malta. >> we are blessed with a very important strategic position. in europe, but center of the mediterranean. the companies that want to penetrate the european market, have a safehane where to invest. so by investing in our country, you can be part of the european market but you're minutes from libya or an hour from egypt, an hour from tunisia and the other places. the best place to position the headquarters. >> when you look at the united states and the budget deficit and the $17 trillion, and the threat of the potential government shutdown and things
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like that, what do you see? does it make you fearful? >> no. what happens in the united states affects us all. whether we're a small country in the mediterranean or elsewhere in asia. for me the important thing is not the amount of the deficit but how we spend your money. the important thing when you have a deficit and if you have a deficit you need to spend that money wisely. not just throwing it at the dogs. >> eric: your unemployment rate is what? 6%? >> yes. >> eric: do you look at ours at 2.3, what are you doing differently? >> i think we are, we're small enough to be more flexible. i believe that this flexibility is giving to results. we can do better and we will do better. we're positioning the economy now as part of a global market, rather than just the european market. that is where things will get better. >> eric: all right. we'll leigh leave -- we'll leave it there.
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not often you have a head of state on "cashin' in." we have one this week. that is it for cost of freedom block. thank you for joining us. weigh in on the topics we discussed on twitter. see you ont. all over. we are now just days away from the threat of a government shutdown. and his 21-hour speech, senator cruz excoriated senators for not listening to the people. polls show that americans don't like obamacare, but they also don't want a government shutdown. we're talking. who will blink in this battle of washington, right here, right now. from the fox business network headquarters in new york city, it's "the tom sullivan show." here's your host, tom sullivan. and thanks for joining us here. the top of the stack, there is clearly some bad blood between republicans, especially in the senate. ted cruz, mike lee, marco rubio, the young bucks versus the old guard. and then there is the disagreement over defunding or not of obamacar


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